senate Bill S8178

2019-2020 Legislative Session

Relates to requiring certain perils be covered under business interruption insurance during the coronavirus disease 2019 (COVID-19) pandemic

download bill text pdf

Sponsored By

Current Bill Status - Stricken


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed/Vetoed by Governor

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Actions

view actions (2)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Apr 17, 2020 recommit, enacting clause stricken
Apr 13, 2020 referred to insurance

Co-Sponsors

S8178 (ACTIVE) - Details

Current Committee:
Law Section:
Insurance

S8178 (ACTIVE) - Summary

Requires certain perils be covered under business interruption insurance during the coronavirus disease 2019 (COVID-19) pandemic.

S8178 (ACTIVE) - Sponsor Memo

S8178 (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  8178

                            I N  S E N A T E

                             April 13, 2020
                               ___________

Introduced  by  Sen.  MAYER  -- read twice and ordered printed, and when
  printed to be committed to the Committee on Insurance

AN ACT in relation to requiring certain perils be covered under business
  interruption insurance during the coronavirus disease 2019  (COVID-19)
  pandemic

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. (a) Notwithstanding any provisions of law,  rule  or  regu-
lation  to the contrary, every policy of insurance insuring against loss
or damage to property, which includes the loss of use and occupancy  and
business  interruption,  shall be construed to include among the covered
perils under that policy, coverage for business  interruption  during  a
period of a declared state emergency due to the coronavirus disease 2019
(COVID-19) pandemic.
  (b) The coverage required by this section shall indemnify the insured,
subject  to  the  limits  under  the policy, for any loss of business or
business interruption for the duration of a period of a  declared  state
emergency due to the coronavirus disease 2019 (COVID-19) pandemic.
  (c)  This section shall apply to policies issued to insureds with less
than 100 eligible employees in force on the effective date of this  act.
"Eligible  employee"  means a full-time employee who works a normal work
week of 25 or more hours.
  § 2. (a) An insurer which indemnifies an insured who has filed a claim
pursuant to section one of this act may apply to the  superintendent  of
financial  services  for relief and reimbursement by the department from
funds collected and made available  for  this  purpose  as  provided  in
section three of this act.
  (b)  The  superintendent  of financial services shall establish proce-
dures for the submission and qualification of claims by  insurers  which
are  eligible for reimbursement pursuant to this act. The superintendent
of financial services shall incorporate in these procedures such  stand-
ards  as  are  necessary to protect against the submission of fraudulent
claims by insureds, and appropriate safeguards for insurers to employ in
the review and payment of such claims.

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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